Posted on Sat Jun 15, 2019, on Trusts
From Our “Ask a Question” Mailbag: “I am an immigrant from China. I read your articles, and could you please write an article about Trusts Explained for Immigrants?” Trusts Explained for Immigrants. After living for a year in Beijing, spending several years in Europe and being married to a Korean […]
Klenk Law
Posted on Wed Dec 19, 2018, on Estate Planning
From Our “Ask a Question” Mailbag: “Please give me Examples of Estate Planning Protecting your Heirs.” Examples of Estate Planning Protecting Your Heirs: Example of an Education Trust Protecting Your Heirs. Mrs. Philadelphia wished to make sure her Grandchildren had enough money to pay for college. She instructed her Estate […]
Klenk Law
Posted on Thu Jul 23, 2015, on Trusts
From our “Ask a Question” mailbag: I created a Revocable Living Trust to avoid probate with the Philadelphia Register of Wills, but I have decided that I would like to form a trust that would pay for my nieces college education. Can I do this using my Revocable Living Trust?
You can certainly form an Education Trust within the terms of your existing Revocable Living Trust. A Living Trust is divided into two main parts; the terms that apply when you are alive and the terms that apply after your death.
What I can do is draft an amendment to your existing Revocable Living Trust adding the Education Trust into the “what happens after your death” portion.
Klenk Law
Posted on Mon Sep 17, 2012, on Estate Planning
Only a little over three months remain to maximize estate tax and gift tax opportunities that are scheduled to disappear in 2013. There is still time, but if you are going to act you need to start working with your estate planning lawyer soon.
Never have the Gift Tax and Estate Tax exemptions been higher than they are currently. The Federal Estate and Gift Tax Exemptions are currently $5,120,000.00. If congress takes no actions, these exemptions fall to $1,000,000.00 in 2013. This change exposes to taxation an additional $4,120,000 to those who die or gift in 2013 vs. 2012, increasing the tax due by hundreds if not millions of dollars.¹
Klenk Law
Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!
"I worked for Peter Klenk for 4 wonderful years. I can’t speak highly enough of everyone at the firm. Everyone truly cares about their clients and has a strong sense of responsibility to get things done right. I would highly recommend Klenk Law!"
Flora Novick
Peter Klenk was great at explaining complicated issues and making them understandable. He and his team were extremely efficient and I highly recommend them for the creation of wills and trusts.
Peter offers excellent service in a easy friendly atmosphere. Highly recommended!
We were extremely pleased with the work done by Peter Klenk and members of the staff at Klenk Law. They were very thorough and did the work in a timely fashion. Peter's explanations of the legal system were very clear and helpful. I highly recommend this firm and Peter.
very happy to deal with Peter Klenk law firm over many decades
We came to this firm based because of the online reviews we read and were not disappointed. Peter and the staff were a pleasure to work with - Peter was friendly, knowledgeable and patient with all our questions and the office staff were extremely responsive and efficient with all the scheduling and follow up needed to get us ready for the signing. We also like that all documents are housed in a portal that is easily accessible. Thank you to Peter and the team for helping us cross 'update estate planning documents' off our list.
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